September 1, 2021
3 Minute Read
In this article:
While many hands-on landlords manage rental properties on their own, some choose to hire a property manager to handle some or all of the u003ca class='constellation-link' href='https://www.zillow.com/rental-manager/resources/manage-properties/' target='_blank' rel='noopener noreferrer'>landlord responsibilities. Use this guide to decide if hiring a property manager is right for you and what steps you can take to find a property management company in your area.
Property managers essentially save you time and ease the stress and worry that can come with landlording — such as marketing the rental, managing tenants, collecting rent, responding to maintenance requests and handling legal issues. They are often employed by a company that rents your house for you in exchange for a property management fee, which is typically between 7% and 10% of the monthly rent.
You should consider hiring a property management company if:
If you’re interested in becoming a u003ca class='constellation-link' href='https://www.zillow.com/rental-manager/resources/how-to-become-landlord/' target='_blank' rel='noopener noreferrer'>DIY landlord, you may be able to find a property management company to handle a portion of the landlording tasks while you handle the rest yourself. In that case, they may charge you a lower property management fee.
Whether or not you need a property manager depends on how much time you’re willing to spend on rental tasks or if you’d rather just pay a property management fee than handle everything yourself. Here are some reasons why you might choose to take on some tasks yourself or why you might have a property manager handle everything.
Hiring a property manager to handle some of the landlord responsibilities will:
Hiring a property manager to handle all landlord responsibilities will:
If you haven’t bought your investment property yet, research whether any property management companies in your area are willing to manage a single rental. If you currently only have a single residential home for rent, some companies may not be interested — many only want to deal with people who own multiple properties or apartment buildings and complexes.
Here are some steps to help you find and hire a property manager:
For more articles, tips and trends about property management, property maintenance and being a landlord, visit our u003ca class='constellation-link' href='https://www.zillow.com/rental-manager/' target='_blank' rel='noopener noreferrer'>Rental Resource Center.
Learn how Zillow Rentals can help you reach your goals.
Access exclusive industry insights, market trends, and expert tips. Subscribe now to receive quarterly Zillow Rentals newsletters!